Resona Asset Management Co. Ltd. Takes $501,000 Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

Resona Asset Management Co. Ltd. acquired a new position in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,761 shares of the financial services provider's stock, valued at approximately $501,000.

Other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in shares of Alexander & Baldwin by 284.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,675 shares of the financial services provider's stock worth $29,000 after purchasing an additional 1,239 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Alexander & Baldwin by 90.0% in the fourth quarter. Versant Capital Management Inc now owns 2,183 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 1,034 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of Alexander & Baldwin in the fourth quarter valued at $112,000. Point72 Asset Management L.P. boosted its holdings in Alexander & Baldwin by 35.1% in the third quarter. Point72 Asset Management L.P. now owns 9,100 shares of the financial services provider's stock valued at $175,000 after purchasing an additional 2,363 shares during the period. Finally, Aigen Investment Management LP acquired a new position in Alexander & Baldwin during the 4th quarter worth $227,000. Hedge funds and other institutional investors own 91.29% of the company's stock.

Alexander & Baldwin Stock Performance

Shares of NYSE ALEX remained flat at $16.61 during mid-day trading on Tuesday. 137,417 shares of the company were exchanged, compared to its average volume of 373,162. The stock has a 50-day simple moving average of $17.44 and a 200 day simple moving average of $18.13. Alexander & Baldwin, Inc. has a 1 year low of $15.53 and a 1 year high of $20.30. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.21 billion, a PE ratio of 26.79 and a beta of 1.03.

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Alexander & Baldwin (NYSE:ALEX - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.15. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. The company had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. On average, equities analysts expect that Alexander & Baldwin, Inc. will post 1.35 EPS for the current year.

Alexander & Baldwin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were paid a $0.225 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.90 dividend on an annualized basis and a yield of 5.42%. This is a boost from Alexander & Baldwin's previous quarterly dividend of $0.22. Alexander & Baldwin's payout ratio is currently 107.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. JMP Securities reissued a "market perform" rating on shares of Alexander & Baldwin in a research report on Monday, January 6th. StockNews.com cut Alexander & Baldwin from a "buy" rating to a "hold" rating in a research report on Sunday, March 16th. Finally, Piper Sandler raised their target price on Alexander & Baldwin from $23.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th.

Alexander & Baldwin Company Profile

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company's simplification and monetization effort.